Fidelity National Information Services (NYSE:FIS) Given New $84.00 Price Target at Bank of America

Fidelity National Information Services (NYSE:FIS) had its price target raised by Bank of America from $79.00 to $84.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

Several other research firms also recently commented on FIS. Morgan Stanley upped their price objective on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the company an overweight rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. upped their price objective on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the company an overweight rating in a report on Friday, February 23rd. Evercore ISI upped their price objective on shares of Fidelity National Information Services from $58.00 to $62.00 and gave the company an in-line rating in a report on Tuesday, March 26th. TheStreet raised shares of Fidelity National Information Services from a d rating to a c rating in a report on Monday, February 26th. Finally, BNP Paribas downgraded shares of Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 price objective on the stock. in a report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $71.59.

Fidelity National Information Services Price Performance

Shares of NYSE:FIS opened at $70.00 on Tuesday. The company’s 50-day moving average is $69.04 and its 200 day moving average is $61.18. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $40.35 billion, a P/E ratio of -6.23, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. Fidelity National Information Services has a fifty-two week low of $46.91 and a fifty-two week high of $74.75.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. Fidelity National Information Services’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.71 earnings per share. On average, equities research analysts forecast that Fidelity National Information Services will post 4.66 earnings per share for the current year.

Fidelity National Information Services Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio (DPR) is -12.81%.

Fidelity National Information Services declared that its board has authorized a stock buyback program on Monday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Jeffrey A. Goldstein acquired 775 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were bought at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the transaction, the director now owns 9,052 shares in the company, valued at $655,093.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. OFI Invest Asset Management bought a new position in Fidelity National Information Services during the third quarter valued at approximately $25,000. Baystate Wealth Management LLC grew its position in Fidelity National Information Services by 332.1% during the third quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 372 shares during the last quarter. EdgeRock Capital LLC bought a new position in Fidelity National Information Services during the fourth quarter valued at approximately $29,000. Rise Advisors LLC bought a new position in Fidelity National Information Services during the first quarter valued at approximately $29,000. Finally, Brown Brothers Harriman & Co. grew its position in Fidelity National Information Services by 83.3% during the first quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 130 shares during the last quarter. 96.23% of the stock is currently owned by institutional investors.

Fidelity National Information Services Company Profile

Fidelity National Information Services, Inc engages in the provision of financial services technology solutions for financial institutions, businesses, and developers worldwide. It operates through Banking Solutions, Capital Market Solutions, and Corporate and Other segments. The company provides core processing and ancillary applications; mobile and online banking; fraud, risk management, and compliance; card and retail payment; electronic funds transfer and network; wealth and retirement; and item processing and output solutions.